Yep, it is quite effective for such a simple design. Especially considering that it's probably seeing less than a quarter of my total loop flow (about 1GPM), most of it is going through the other CPU outlet which will eventually have a GPU block. Also I didn't even use thermal compound or tape between the drive and the copper, so there's probably a bit of room for improvement
It screws in the 5 1/4" bay, but via some little standoffs made of 1/4" tubing to isolate drive vibration from case). Works quite well